Question 3. 3.( TCO 2) _____ can reduce taxable income. Portfolio income Tax credits Exclusions Passive income Earned income
Question 4. 4.( TCO 2) Mary has earned money from a limited partnership, so she would need to report this as _____ income.
passive capital gain portfolio earned excluded
Question 5. 5.( TCO 2) George Washburn had earnings from his salary of $ 44,000, interest on savings of $ 800, a contribution to a traditional individual retirement account of $ 2,000, and dividends from mutual funds of $ 600. George ' s adjusted income( AGI) would be
$ 43,400. $ 44,000. $ 45,400. $ 42,000. $ 42,800.